Ch 2 - Key Project Management Terms

Question 1

A temporary endeavor to create a unique product, service or result.

Answer 1

A project.

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Question 2

The output of a project must be:

Answer 2

unique, have a start and end date, and be a temporary endeavor.

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Question 3

Name a main difference between a project and an operation.

Answer 3

Operations have no start or end date, it’s never finished.

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Question 4

Is providing IT Support an operation or a project?

Answer 4

IT Support is ongoing, making it an operation.

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Question 5

What’s the term that implies you discovering greater levels of detail and the project progresses?

Answer 5

Progressive elaboration or “Rolling Wave Planning.”

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Question 6

All project are limited as to:

Answer 6

Time, Cost and Scope.

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Question 7

Name the three (3) different approaches to managing a project:

Answer 7

1. ) Predictive
2. ) Agile
3. ) Hybrid

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Question 8

Another name for Waterfall projects:

Answer 8

Predictive

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Question 9

Another name for Agile projects:

Answer 9

Adaptive or Change-Driven

Question 10

Why do companies do projects?

Answer 10

The company wants to derive value, in the form of tangible items (money) or intangible items (reputation).

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Question 11

A process consists of what four (4) things:

Answer 11

1. ) input
2. ) tools
3. ) techniques
4. ) outputs

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Question 12

What is a phase?

Answer 12

A division with the project where extra control is needed to effectively manage the completion of one or more deliverables.

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Question 13

What are the five (5) process groups?

Answer 13

1. ) initiation
2. ) planning
3. ) executing
4. ) monitoring and control
5. ) closing

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Question 14

What are some other terms for Phase Gates?

Answer 14

Phase reviews, stage gates, kill points

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Question 15

What’s the definition of “deliverable?”

Answer 15

Part of the product that is presented to the customer or stakeholders for acceptance.

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Question 16

What is a Knowledge Area?

Answer 16

A group of processes, usually defined by the knowledge needed to manage that area.

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Question 17

Name 3-5 knowledge areas:

Answer 17

integration, scope, schedule, cost, quality, resources, communication, risk, procurement, and stakeholders.

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Question 18

What is the Development Life Cycle?

Answer 18

The series of phases a project will go through from start to finish.

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Question 19

Program

Answer 19

A collection of projects, containing a common goal.

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Question 20

Portfolio

Answer 20

A collection of projects and programs, to achieve a strategic business goal.

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Question 21

Name the three (3) baselines:

Answer 21

1. ) Scope
2. ) Time
3. ) Cost

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Question 22

Baseline

Answer 22

A method used to measure a project’s performance. The status of the project is reached by comparing the actual work against the planned work, i.e., the baselines.

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Question 23

What is Historical Information?

Answer 23

Records that have been kept from previous projects, i.e., templates, lessons learned.

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Question 24

What is a Lessons Learned?

Answer 24

Documenting new and better ways of completing various tasks. Done at the end of every project or phase. The next time you do something you do it better.

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Question 25

What are regulations?

Answer 25

Regulations are things that must be followed, generally imposed by law.

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Question 26

What is a standard?

Answer 26

An approved method of performing of doing something, as defined by a recognized body.

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Question 27

What is a system?

Answer 27

All formal procedures and tools in place to manage something.

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Question 28

Project Governance

Answer 28

The framework, functions and processes a company will follow while completing a project.

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Question 29

Project Management Office (PMO)

Answer 29

The PMO is a body that provides guidance and support for all project managers.

1. ) Supporting - support the PM with templates and training
2. ) Controlling - Moderate authority over the project; provides framework and common templates
3. ) Directive - High authority; in control of the project; PM reports to PMO

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Question 30

Stakeholder

Answer 30

Any individual that may be impacted by the project.

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Question 31

Functional Manager

Answer 31

Heads of different organizational functions. They have control over the organizations resources.

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Question 32

Project Coordinator

Answer 32

Less authority than a Project Manager. Does not manage the project budget, but does assign resources to tasks.

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Question 33

Project Expeditor

Answer 33

Have less authority than PM and Coordinators. They help to organize project work.

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Question 34

Organizational Structure - Organic or Simple

Answer 34

Formal PM does not exist. Project leadership is typically performed by the owner or operator, whoever controls the budget.

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Question 35

Organizational Structure - Virtual

Answer 35

Project Management is done virtually using technology. PM can be full-time or part-time.

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Question 36

Organizational Structure - Functional

Answer 36

PM has very little power over the resources. Resources managed by Functional Manager. Even the PM reports to the Functional Manager. When the project is done, the team member goes back to his functional duties.

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Question 37

Organizational Structure - Projectized

Answer 37

PM has 100% control over the resources. When the project is complete, all resources are released back to the company or reassigned to another project.

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